A one-off 1967 Shelby GT500 Super Snake has sold for a record US$1.3 million (NZ$1.58m) at auction in the US.

Website MustangDaily.com reports that the previous record for a Mustang was just under US$1m in 2012 for a 1965 Shelby GT350.

The one-of-a-kind GT500 Super Snake is powered by a 427 cubic inch V8 from a Ford GT40 race car, making it the most powerful and fastest Mustang produced by Shelby in the 1960s.

MustangDaily says 50 of the cars had been planned but the then high $8000 price tag at the time meant there was little purchasing interest.

The Super Snake was not the only Mustang to crack the seven figures at the Mecum auction in Indianapolis with the "Eleanor" machine from the movie Gone In 60 Seconds going for exactly US$1m (NZ$1.22m).

The "Eleanor" 1967 Shelby GT500 is one of three surviving from 11 built for the movie but it was also the "Hero Car" used in the movie's poster and promotional materials and considered to be in the best condition.